Market Analysts see Plug Power Inc. [PLUG] gaining to $34. Time to buy?

Plug Power Inc. [NASDAQ: PLUG] traded at a low on 09/20/21, posting a -2.83 loss after which it closed the day’ session at $25.72. The company report on September 20, 2021 that Plug Power to Build Largest Green Hydrogen Production Facility on the West Coast.

The Fresno County plant will produce 30 metric tons of liquid green hydrogen per day.

Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, is expanding its green hydrogen ecosystem to the west coast with the construction of a new state-of-the-art production facility in Fresno County, California. Green hydrogen is produced through the electrolysis of water with electricity generated from zero-carbon sources and only harmless oxygen is emitted during the process.

The results of the trading session contributed to over 16731453 shares changing hands. Over the past one week, the price volatility of Plug Power Inc. stands at 4.30% while the volatility over the past one month is 4.64%.

The market cap for PLUG stock reached $13.94 billion, with 567.03 million shares outstanding and 516.29 million shares in the current float. Compared to the average trading volume of 20.79M shares, PLUG reached a trading volume of 16731453 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Plug Power Inc. [PLUG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLUG shares is $43.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLUG stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Plug Power Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 01, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on July 23, 2021, representing the official price target for Plug Power Inc. stock. Previously, the target price had yet another raise to $36, while Seaport Global Securities analysts kept a Buy rating on PLUG stock.

The Average True Range (ATR) for Plug Power Inc. is set at 1.31 The Price to Book ratio for the last quarter was 3.02, with the Price to Cash per share for the same quarter was set at 8.13.

How has PLUG stock performed recently?

Plug Power Inc. [PLUG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.24. With this latest performance, PLUG shares gained by 8.25% in over the last four-week period, additionally sinking by -33.90% over the last 6 months – not to mention a rise of 89.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLUG stock in for the last two-week period is set at 49.31, with the RSI for the last a single of trading hit 51.56, and the three-weeks RSI is set at 48.02 for Plug Power Inc. [PLUG]. The present Moving Average for the last 50 days of trading for this stock 26.26, while it was recorded at 25.29 for the last single week of trading, and 35.38 for the last 200 days.

Plug Power Inc. [PLUG]: Deeper insight into the fundamentals

Return on Total Capital for PLUG is now -42.68, given the latest momentum, and Return on Invested Capital for the company is -46.71. Return on Equity for this stock declined to -74.39, with Return on Assets sitting at -39.45. When it comes to the capital structure of this company, Plug Power Inc. [PLUG] has a Total Debt to Total Equity ratio set at 38.31. Additionally, PLUG Total Debt to Total Capital is recorded at 27.70, with Total Debt to Total Assets ending up at 24.96. Long-Term Debt to Equity for the company is recorded at 33.31, with the Long-Term Debt to Total Capital now at 24.08.

Reflecting on the efficiency of the workforce at the company, Plug Power Inc. [PLUG] managed to generate an average of -$463,934 per employee. Receivables Turnover for the company is -1.87 with a Total Asset Turnover recorded at a value of -0.06.Plug Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.90 and a Current Ratio set at 19.80.

Insider trade positions for Plug Power Inc. [PLUG]

There are presently around $7,290 million, or 50.50% of PLUG stock, in the hands of institutional investors. The top three institutional holders of PLUG stocks are: VANGUARD GROUP INC with ownership of 49,101,635, which is approximately 7.189% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 44,807,168 shares of the stock with an approximate value of $1.15 billion in PLUG stocks shares; and D. E. SHAW & CO., INC., currently with $381.42 million in PLUG stock with ownership of nearly 22.487% of the company’s market capitalization.

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Positions in Plug Power Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 322 institutional holders increased their position in Plug Power Inc. [NASDAQ:PLUG] by around 62,986,632 shares. Additionally, 221 investors decreased positions by around 63,493,343 shares, while 95 investors held positions by with 156,969,909 shares. The mentioned changes placed institutional holdings at 283,449,884 shares, according to the latest SEC report filing. PLUG stock had 110 new institutional investments in for a total of 8,853,912 shares, while 81 institutional investors sold positions of 6,750,804 shares during the same period.

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